Financing in 02124 : Advice

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Andrew Adams, Real Estate Pro in 01915
Andrew Adams answered:
I intend to purchase a 2-family, both units are leased till Aug12. I aim to use it as primary residence. Can I qualify for owner occupied loan?
If you cannot move in within 60 days you will have major problems. The tennents need to be made aware that you will be buying the property and they need to find a new place to live. I ... more
0 votes Share Flag Mon Dec 5, 2011 Financing in Boston
Matt Sullivan, Real Estate Pro in Boston, MA
Matt Sullivan answered:
Looking for a hard money loan for owner occupied residence in MA?
We might be able to suggest some options for you. But based on the information you provided it doesn’t sound very attractive to ANY lender…. property currently valued at $ ... more
0 votes Share Flag Thu Jul 25, 2013 Financing in Boston
Frank DiTomm…, Real Estate Pro in New York
Frank DiTommaso answered:
My husband and I are both working overseas, and we're trying to refinance an existing mortgage on an investment property in Boston. We're both US
An investment property may be difficult to refinance with today's lending requirements. Good credit and plenty of equity might not be enough. Talk to your lender to see if there ar ... more
0 votes Share Flag Fri Dec 16, 2011 Financing in Boston
Fred Glick, Real Estate Pro in Los Angeles County, CA
Fred Glick answered:
FHA or not to FHA
Practically, the only thing it may change for the seller is the FHA requirements (possibly) for repairs.

If there are repairs needed, the seller can agree to make repairs or the buye ... more
0 votes Share Flag Sat Sep 3, 2011 Financing in Boston
D. Vincent M…, Real Estate Pro in 02127
D. Vincent Murphy answered:
Can my wife qualify for a mortgage even though I'm a student?
If you have a 1ooK down seems like they will give you a Mortgage . The 45 K may be a problem and if you do not have loans yet then it will not show up. Check my listings I may be able t ... more
0 votes Share Flag Sat Oct 20, 2012 Financing in Boston
Scott Godzyk, Real Estate Pro in 03109
Scott Godzyk answered:
Can I change my loan officer after getting the pre-approval?
If you made formal application, teh GFE needs to be issued sooner than 2 weeks and that is law, if you were only get prequailified than it may not apply, if you want to stay with teh sa ... more
0 votes Share Flag Wed Jun 29, 2011 Financing in Boston
Scott Godzyk, Real Estate Pro in 03109
Scott Godzyk answered:
What can they charge for when pulling out of a refinance?
It depends what you signed, most often it is the appraisal and credit report, if the closing attorney has pulled title you could pay for that and depending what you signed, you may owe ... more
0 votes Share Flag Thu May 19, 2011 Financing in Boston
Wen Farina (…, Real Estate Pro in Massachusetts
Wen Farina (Wayne) answered:
How much deposit (Earnest Money) should I put for a $625,000 house in Lexington?
Ying,

you should talk to your Realtor and ask him/her this question. The amount buyers put with an offer can vary, example 500- 1000. Sometimes a buyer may make a larger deposit to ... more
0 votes Share Flag Sun May 20, 2012 Financing in Boston
Anna Brocco, Real Estate Pro in Nassau County, NY
Anna Brocco answered:
Is it possible to change loan officer within the same institute?
Yes, but consider speaking to your loan officer and his/her supervisor and express your concerns, if the chat proves unsatisfactory, ask to be assigned another officer....
0 votes Share Flag Sat Mar 19, 2011 Financing in Boston
Gina Bello, Real Estate Pro in Middlesex County, MA
Gina Bello answered:
Hello- Looking for a $750K loan for $850K home purchase in MA. Are there any mortgage products in the mkt for a loan this size with approx. 10% down?
Hello Mr Smith,

My name is Gina Bello I am a realtor with Remax Prestige in the middlesex county area. Yes there are loan product out there for these types of loans. I work closley w ... more
0 votes Share Flag Tue Mar 1, 2011 Financing in Boston
tim moore, Real Estate Pro in Nags Head, NC
tim moore answered:
On a 203k loan, do you have to use a contractor do the work?
The short easy answer is yes. You have to use one approved by the lender as well. Your 203K lender will have a list of approved contractors in the area.
0 votes Share Flag Sat Feb 5, 2011 Financing in Boston
Andrew Adams, Real Estate Pro in 01915
Andrew Adams answered:
Is it possible to get pre-approved for a 203k mortgage? (Question for Andrew Adams)
If the property is in need of repair the seller will need to be open to 203K financing and truthfully it is better than a regular FHA offer. Any property issues that would be identifie ... more
0 votes Share Flag Thu Dec 9, 2010 Financing in Boston
Jeffrey Manc…, Real Estate Pro in Boston, MA
Jeffrey Mancovsky answered:
Questions about 203k loans
It will be on the combined total of 150,000. I can be reached at 508-989-4295 or via email for a quote, we are a direct lender.
0 votes Share Flag Thu Nov 11, 2010 Financing in Boston
Jessie Cuddy, Real Estate Pro in Boston, MA
Jessie Cuddy answered:
where do i have to go to get a plat plan for my condo inso.boston
Heather, It should be recorded at the Suffolk Registry of Deeds. It should be with the Master Plans. Also which would be far easier go on to the City of Boston Assessor's website. ... more
0 votes Share Flag Wed Dec 1, 2010 Financing in South Boston
Gerard Dunn, Real Estate Pro in Potomac, MD
Gerard Dunn answered:
Underwriter denied FHA loan at the last minute due to condo fees not being paid for a few months on a short sale. Will going to another lender work?
If the condo fees not being paid project wide were over 15% (ie: 15% delinquency) - FHA will not insure the project.

This information is provided by the management to the lender as ... more
0 votes Share Flag Tue Apr 13, 2010 Financing in Boston
MDM REALTY H…, Real Estate Pro in 01701
MDM REALTY Heidi Zizza answered:
How many lenders are utillizing FHA products on condominiums since the recent change in FHA guidelines permitting financing for fewer than 4 units in?
Good question! I would call Wells Fargo and Mortgage master and ask a couple of ?s.
0 votes Share Flag Wed Mar 10, 2010 Financing in Boston
Anna Brocco, Real Estate Pro in Nassau County, NY
Anna Brocco answered:
FHA Loan problem with inclusion of non-purchasing spouses debt in community property state even though most of that debt was prior to our marriage
Why not consult with an attorney who specializes in real estate and check out your options--most professionals do offer a free consultation.
0 votes Share Flag Mon Mar 1, 2010 Financing in Boston
Andrew Adams, Real Estate Pro in 01915
Andrew Adams answered:
What good loan options exist for new resident physicians in Boston?
It would be an exception to standard underwriting guidelines, so you would need a portfolio lender. With good credit and a 20% down payment I would be suprised if I could not get an ex ... more
0 votes Share Flag Mon Feb 22, 2010 Financing in Boston
Brian LeBars, Real Estate Pro in Pleasanton, CA
Brian LeBars answered:
Im trying to pick a honest mortgage company/ broker that doesn't charge bogus fees(email/internet access, doc prep, doc review,funding,
Hi D...

I don't do financing in Boston but I can lend you some advise form California. With 5% down here that would still be an FHA loan. I'm pretty sure its the same in B ... more
0 votes Share Flag Mon Feb 22, 2010 Financing in East Boston
Jenny Talasa…, Real Estate Pro in San Diego County, CA
Jenny Talasazan Realtor answered:
What is the debt ratio required for the tax credit loan program?
There are two debt ratios. There is the debt to income ratio and the housing ratios. If you would like me to tell you what your is I can help you. We will want you to be under 45% to st ... more
0 votes Share Flag Thu Jan 14, 2010 Financing in 02128
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